Eligible Inventory Locations definition

Eligible Inventory Locations the five Borrowing Base Eligible Facilities of the Loan Parties that contain the greatest value of Eligible Inventory of the Loan Parties, which facilities shall be updated no more than once in any fiscal year at the Permitted Discretion of the Administrative Agent. On the Closing Date, it is agreed that each of the Borrower’s warehouses located in Syracuse, New York, Xxxxxxxx Springs, Connecticut, Salem, New Hampshire, Stafford, Connecticut and Littleton, Colorado shall constitute Eligible Inventory Locations.
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Eligible Inventory Locations means, collectively, in respect of the Borrowing Group, the locations in the United States and Puerto Rico and, in respect of West Marine Canada, the locations in Canada, in each case, identified on Schedule 5.4 attached hereto, as updated from time to time by Administrative Borrower pursuant to Section 5.4, and any Eligible Boat Show Location.
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Eligible Inventory Locations means (a) the fulfillment centers or warehouses owned or leased by Revolving Loan Borrowers listed on Exhibit C attached hereto and the Gump's Main Store, (b) additional fulfillment centers or warehouses first leased or owned by Revolving Loan Borrowers after the date hereof, not located in the State of California, with respect to the acquisition of which Revolving Loan Borrowers provide thirty (30) days' prior written notice to Lender; provided, however, as to both clauses (a) and (b), Eligible Inventory Locations shall not include the Gump's Main Store or any fulfillment center or warehouse owned or leased by Revolving Loan Borrowers, unless Revolving Loan Borrowers shall have delivered to Lender all instruments and documents required by Lender to perfect or maintain perfection of Lender's first priority security interest in and liens upon such Inventory, subject to no other liens or claims, except those, if any, expressly permitted hereunder, together with, and without limiting the foregoing, a Collateral Access Agreement, in form and substance satisfactory to Lender, from each owner, operator and mortgagee of such location, and (c) warehouse, ports of entry or other premises of a Customs Broker or Freight Forwarder located in the United States of America to which Eligible Inventory is in transit from a location outside the United States of America; provided, that, as to clause (c), Lender shall have received a Notification and Acknowledgment Agreement, duly authorized, executed and delivered by such Customs Broker and Freight Forwarder handling the shipping and delivery of such Inventory."
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Examples of Eligible Inventory Locations in a sentence

  • Where a Dealer Member has reasonable grounds for concluding that the institutional customerInstitutional Customer is capable of making an independent investment decision and independently evaluating the investment risk, then a Dealer Member’s suitability obligation is fulfilled for that transaction.

  • Bank shall have ---------------------------- received such Collateral Access Agreements from lessors, warehousemen, bailees, and other third persons as Bank may require with respect to all Eligible Inventory Locations.

  • DE SOS General Electric Capital Corporation UCC-1 6/6/2005 51780205 Schedule 5.4 Eligible Inventory Locations Owned Or Leased West Marine Products, Inc.

  • While precise data on the number of children employed in violation of youth employment standards in the United States are not available, results for fiscal year 2005 suggest a reduction in both the average number of minors found employed in violation of the FLSA child labor provisions and the severity of child labor violations.

  • Schedule 4.14(b) – Lease Defaults Part A None Part B None Schedule 4.14(c) – Eligible Inventory Locations 0000 X Xxxxxx Xxxxxx, Xxxxxx, XX 00000 X0000 Xxxxxx Xxxxx, Xxxxxxxxxx, XX 00000 0000 Xxxx Xxxx Xxxxx, Xxxxx Xxx, XX 00000 000 Xxxxxxx Xxxxxxx, Xxxxxxxxx, XX 00000 00 Xxxxxxxxx Xxxxxxxxx, Xxxxxx, XX 00000 0000 Xxxxx Xxxxx Xxxxxx, Xxxxxx, XX 00000 0000 Xxxxxxxx Xxxxx, Xxxxxxxxx, XX 00000 0000 Xxxxxx Xxx, San Fernando, CA 0000 X.

  • Eligible Inventory Locations Owned Property (Wabash National Trailer Centers, Inc.) 100 Xxxxxxx Xxxxxx Dunmore, PA (Wabash National Trailer Centers, Inc.) 1000 Xxxxxxxx Xxxx San Antonio, TX (Wabash National Trailer Centers, Inc.) 10000 X.

  • Non-Owned Eligible Inventory Locations International Locations Address Type Barana Seafood Processors Limited Factory National Fisheries Compound, 10B Production Avenue, Sea Lots, P.O. Box 1334, Wrightson Road, Post Office, Port of Spain, Trinidad Pacific Fishing Company Ltd.

  • Schedule E-1 Eligible Inventory Locations to the Loan Agreement is hereby amended and restated in its entirety to read as set forth in Exhibit A hereto.

  • Bank shall have received ---------------------------- such Collateral Access Agreements from lessors, warehousemen, bailees, and other third persons as Bank may require with respect to all Eligible Inventory Locations, including Eligible Inventory Locations maintained by Discount RX and Valley South.

  • Amendment to Schedule E-1 to the Loan Agreement (Eligible Inventory Locations).


More Definitions of Eligible Inventory Locations

Eligible Inventory Locations means collectively the locations designated on Schedule E-1 as eligible inventory locations.
Sample 1
Eligible Inventory Locations means Borrower's headquarters location in Lake Mary, Florida, and Borrower's facilities in Kennett Square, Pennsylvania to the extent that Bank has received an Access Agreement with respect thereto, together with any other location in the United States consented to by Bank in writing, and for which Bank has received an Access Agreement.
Sample 1

Related to Eligible Inventory Locations

  • Eligible Inventory means and include Inventory, excluding work in process, with respect to each Borrower, valued at the lower of cost or market value, determined on a first-in, first-out basis, which is not obsolete, slow moving or unmerchantable as determined by Agent in its Permitted Discretion and which Inventory, based on such considerations as Agent may from time to time deem appropriate in its Permitted Discretion including whether the Inventory is subject to a perfected, first priority security interest in favor of Agent and no other Lien (other than a Permitted Encumbrance). Notwithstanding anything herein to the contrary, no Inventory shall be Eligible Inventory to the extent such Inventory was acquired by a Borrower pursuant to an entity creation under Section 7.12 or a Permitted Acquisition, unless Agent has (i) completed field examinations with respect to such Inventory, the results of which are satisfactory in form and substance to Agent in its Permitted Discretion or (ii) waived such restriction in its Permitted Discretion. In addition, Inventory shall not be Eligible Inventory if it: (a) does not conform in all material respects to all standards imposed by any Governmental Body which has regulatory authority over such goods or the use or sale thereof; (b) is in transit (other than between one or more locations where Borrowers are permitted hereunder to maintain or store Inventory and such location is the subject of a Lien Waiver Agreement or a Processor’s Agreement, as applicable, unless such location is owned by Borrower); (c) is located outside the continental United States or at a location that is not otherwise in compliance with this Agreement; (d) constitutes Consigned Inventory (other than Consigned Inventory that is subject to a warehouseman’s waiver in form and substance satisfactory to Agent); (e) is the subject of an Intellectual Property Claim; (f) is subject to a License Agreement that limits, conditions or restricts the applicable Borrower’s or Agent’s right to sell or otherwise dispose of such Inventory, unless Agent is a party to a Licensor/Agent Agreement with the Licensor under such License Agreement (or Agent shall agree otherwise in its Permitted Discretion after establishing reserves against the Formula Amount with respect thereto as Agent shall deem appropriate in its Permitted Discretion); (g) at any time following seventy-five (75) days after the Closing Date (or such later date agreed to by Agent), is situated at a location not owned by a Borrower unless the owner or occupier of such location has executed in favor of Agent a Lien Waiver Agreement or a Processor’s Agreement, as applicable (or Agent shall have established reserves against the Formula Amount with respect thereto as Agent shall deem appropriate in its Permitted Discretion in an amount not to exceed the equivalent of three (3) months’ rental obligation with respect to such location); or (h) if the sale of such Inventory would result in the creation of a Receivable which, on the date of such sale, would fail to constitute an Eligible Receivable due to the operation of any of clauses (b), (c) or (e) – (p) of such definition.

  • Eligible In-Transit Inventory means, as of any date of determination thereof, without duplication of other Eligible Inventory, In-Transit Inventory:

  • Inventory is all “inventory” as defined in the Code in effect on the date hereof with such additions to such term as may hereafter be made, and includes without limitation all merchandise, raw materials, parts, supplies, packing and shipping materials, work in process and finished products, including without limitation such inventory as is temporarily out of Borrower’s custody or possession or in transit and including any returned goods and any documents of title representing any of the above.

  • In-Transit Inventory means Inventory of a Borrower which is in the possession of a common carrier and is in transit from a Foreign Vendor of a Borrower from a location outside of the continental United States to a location of a Borrower that is within the continental United States.

  • Conduit Inventory Loan shall have the meaning assigned to such term in Section 14(d).

  • Excluded Inventory shall have the meaning set forth in Section 2.1(c).

  • Excluded Deposit Accounts means, collectively, (i) payroll and payroll taxes accounts, workers’ compensation accounts and other employee wage and benefit payment accounts and xxxxx cash accounts, (ii) trust accounts and (iii) deposit accounts other than Collection Accounts and Collateral Deposit Accounts (as each such term is defined in the Revolving Credit Agreement), so long as the aggregate amount on deposit in all such deposit accounts does not exceed $2,500,000 in the aggregate at any time.

  • Inventory Advance Rate shall have the meaning set forth in Section 2.1(a)(y)(ii) hereof.

  • Consigned Inventory means Inventory of any Borrower that is in the possession of another Person on a consignment, sale or return, or other basis that does not constitute a final sale and acceptance of such Inventory.

  • Approved Location means (a) a storage terminal or facility located in the United States or Canada owned by the Borrower or a Subsidiary; or (b) other storage location located in the United States or Canada identified by the Borrower by notice to the Administrative Agent for which, if requested by the Administrative Agent, the Borrower has used commercially reasonable efforts to cause the owner, operator or landlord thereof to execute and deliver, a waiver of lien, subordination agreement or similar agreement in form and substance reasonably acceptable to the Administrative Agent with respect to any inventories of Petroleum Products stored at such terminal or facility.

  • Inventory Appraisal means (a) on the Closing Date, the appraisal prepared by Great American Group dated January 22, 2008 and (b) thereafter, the most recent inventory appraisal conducted by an independent appraiser firm pursuant to Section 9.2(b).

  • Eligible Equipment means, at any time of determination, Equipment owned by Borrower which Lender, in its sole discretion, deems to be eligible for borrowing purposes.

  • Eligible Accounts are Accounts which arise in the ordinary course of Borrower’s business that meet all Borrower’s representations and warranties in Section 5.3. Bank reserves the right at any time and from time to time after the Effective Date, to adjust any of the criteria set forth below and to establish new criteria in its good faith business judgment. Unless Bank agrees otherwise in writing, Eligible Accounts shall not include:

  • Approved Deposit Account a Deposit Account that is the subject of an effective Deposit Account Control Agreement and that is maintained by any Loan Party with a Deposit Account Bank. “Approved Deposit Account” includes all monies on deposit in a Deposit Account and all certificates and instruments, if any, representing or evidencing such Deposit Account.